Tsakhia Elbegdorj took more than 50 percent of the vote in the election on June 26.

He defeated former champion wrestler Badmaanyambuu Bat-erdene and the first woman to run for the presidency, Natsag Udval.

Officials say all the votes have been counted, but the result will be confirmed when the ballots are delivered to the capital of Ulan Bator to be checked.

Greeting supporters in Ulan Bator, Elbegdorj said: "I will do my best to uphold our country's reputation internationally. I will also do my best to take suggestions and requests from our citizens for a brighter future, and to realize their hopes and dreams."

The campaign was dominated by debate on how to fight corruption and distribute Mongolia's mining wealth more fairly.

The country's economy grew some 12 percent last year, but most of its 3 million people live below the poverty line.

Elbegdorj, a former journalist, was a leader of the 1990 protests that ended 70 years of one-party communist rule.